(MENAFN- The Peninsula) Qatar Fuel (Woqod) recorded a net profit of QR856m for the third quarter of 2014, up QR23m, or 2.8 percent, as compared to QR833m posted for the same period of 2013.
The results were announced after Woqod's Board of Directors, chaired by Sheikh Saoud bin Abdulrahman Al Thani (pictured), discussed the financial results achieved during the period ended September 30, 2014, yesterday.
Announcing Woqod's financial results Chief Executive Officer Ibrahim Jaham Al Kuwari said that the Board of Directors reviewed and approved the financial results achieved during this period. The Board also examined current and future projects and other related issues and gave his directives. Despite increasing capital base through issuing 30 percent bonus shares in 2013, earning per share (EPS) amounted to QR10.14 as compared to QR9.86 for last year.
While total assets reached QR10.7bn increased by 12.4 percent from last figures, total shareholder's equity recorded a gross rate of 5.3 percent to reach QR6.6bn for that period. Al Kuwari added that Woqod is currently involved in implementation of more than 22 projects under construction and 16 projects in design and approval stages, in addition to 3 projects in tendering process.
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